Heat the cooking oil in a skillet over medium heat. Sauté the finely chopped onion and garlic until translucent.
Add the ground beef and cook, breaking it up with a spoon, until browned and the liquid has evaporated.
Stir in the finely chopped green bell pepper, ground cumin, and dried oregano. Cook for another 2-3 minutes.
Pour in the tomato sauce and season with salt and pepper. Reduce the heat to low, cover, and simmer for 10-15 minutes to allow the flavors to meld.
Stir in the green olives and raisins. If using potatoes, peel, dice, and add them to the stew, cooking until tender.
Serve the Picadillo with steamed rice or fresh tortillas. Garnish with fresh cilantro, if desired.
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